![]() ![]() If it was just me I'd think I was being a crazy conspiracy theorist, but my dad has been a loyal customer for over 30 years and they even put him in the bank sweep account.ĮDIT: Seems that this change was made more than 2 years ago. This seems to have been the case for months and I cannot say when this happened, but I do know my dad has a large cash position after selling out of TSLA a few months ago and from the time he sold in january to now, he has only been accruing the Bank Sweep interest rate and not the MMF rate. IMO this means that Schwab is pocketing the difference and unless you specifically ask for your money to be moved into an MMF are being ripped off for over 4% APR even according to their own disclosure. This is crazy as a bank sweep account only pays 0.45% interest rate instead of the 4.8% currently being paid out on MMF's. According to Schwab's own disclosure which you can find hereĬash not invested is generally held in a money market fund.Īfter 10 minutes of searching and what felt like an intentionally obscured feature (speculation), I was able to find through my statement that my cash was being held in a Bank Sweep account and not a MMF. I decided to log into my Schwab account to check out my cash position and the interest rate accrued from being held in a MMF (Money Market Fund). The most effective route to BUY, HODL and OWN GameStop SharesĬould broker diversification be the catalyst? Or is it just a good idea?ĭiscord Daily Thread DRS Guide AMAs DD Library Hide CS PostsĪs the title states, Schwab is pulling some pretty shady stuff right now. The GME Masters' Guide: A DD Campaign for Apes Levels 1-20 Looking to catch up on the GME Saga? Start here!Įverything Superstonk Knows About Naked Shorting - A Definitive Guide Visit /r/VeryGMErryHolidays for info on Superstonks annual Toys for Tots charity event! New here? Start with these: The Superstonk Library aka gme.fyi Comment !apeprove! anywhere on the sub to be added to the list of pending approvals.Approved Users will bypass these karma and age restrictions entirely. ![]() Not enough karma? Post your DRS Proof /r/GMEOrphans.*total post and comment karma only, excludes award karma ![]() Community Posts Wiki || Rules || Automod Info Post Flairs □ Due Diligence Usage will be monitored.A place for theoretical discussions about GameStop Stock ($GME). © 2023 Charles Schwab & Co., Inc, All rights reserved. Learn more about our services for non-U.S. residents are subject to country-specific restrictions. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides deposit and lending services and products. ( member SIPC), offers investment services and products, including Schwab brokerage accounts. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. and some are subject to country specific restrictions.Ĭheck the background of this firm or one of its investment professionals on FINRA's BrokerCheck. Not all products and services listed are available outside the U.S. ![]() Web Browser Information - IMPORTANT information for Windows XP users. ![]()
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